Dato Eddie Ong (left), a major shareholder of HIB, and Dr Jeff Lim Chee Lip (right), CEO of GASB.
Hextar Industries partners with Luckin Coffee to launch in Malaysia
It plans to bring several Luckin Coffee outlets into the country by Q1 2025.
Hextar Industries Berhad (HIB), through its subsidiary, Global Aroma Sdn Bhd (GASB), has partnered with Luckin Coffee Holding Singapore Pte Ltd to bring the Luckin Coffee brand to Malaysia.
This collaboration grants GASB the exclusive rights to develop, open, and operate coffee shops nationwide under the Luckin Coffee brand.
“GASB plans to launch several Luckin Coffee outlets across Malaysia by Q1 2025,” said Dr. Jinyi Guo, chairman and CEO of Luckin Coffee.
Luckin Coffee, founded in 2017, operates 21,343 stores globally as of the third quarter of 2024 (Q3 2024).
In Q3 2024 alone, the company introduced 1,382 new net stores, a 6.9% unit growth compared to the preceding quarter. Luckin Coffee reported a net income of US$178.8m (RMB1.3b) in Q3 2024.
Moreover, the company’s average monthly transacting customers increased 36.5% year-on-year to 79.8 million in Q3 2024.
In July 2024, Luckin Coffee opened its 20,000th store in Beijing.
(US$1 = RMB7.29)
